- Elder Law
- Family Law
Because the elderly are often isolated and require assistance taking care of themselves or their financial affairs, they’re at risk for financial exploitation at the hands of caregivers, strangers, and even their own family. It can happen to the most business savvy person under the right circumstances. In fact, Mickey Rooney, testified before the US Senate about his personal experience being abused by a family member.
Financial abuse is the improper or illegal use of another’s funds or personal property for self-dealing to bring about personal profit or gain. This is almost always at the expense of the true owner of the money or property. Examples include fraudulently endorsing checks, writing checks off an account without authorization, taking valuable personal property, coercing a person to sign legal documents like a new will or power of attorney, or even selling unnecessary goods and services to the individual.
An all too common example is an adult relative or “friend” who feels entitled to spend the elderly person’s money for his own benefit. Most seniors receive Social Security checks through electronic deposit; online banking is commonplace, and with the ease of obtaining personal information such as account numbers and SSN’s, it is easy to set up online access to an elderly person’s money without even setting foot into the bank.
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